PPP Loan Data — Lucius Hawes Law Firm, Hopkinsville, KY
Lucius Hawes Law Firm is a sole proprietorship located at 300 E. 18th Street in Hopkinsville, Kentucky that received a Coronavirus-related PPP loan from the SBA of $46,600.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First Financial Bank, National Association
Lucius Hawes Law Firm in Hopkinsville, KY received a Paycheck Protection Loan of $46,600 through First Financial Bank, National Association, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in December, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Lucius Hawes Law Firm's 2019 payroll expenses are estimated to be at least $223,680.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $74,560 per employee1
Reported PPP Proceed Usage:
On the PPP application, Lucius Hawes Law Firm reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,600
Business Information - Lucius Hawes Law Firm in Hopkinsville, KY
300 E. 18th Street
Hopkinsville, KY 42240
Offices of Lawyers
NAICS code 541110
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Hopkinsville
In the Hopkinsville area, 21 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 3) and received an average PPP loan of $46,529 (compared to this company's $46,600).
Similar Nearby Businesses Who Received PPP Funding:
Lee M Harton PLLC
Michael W Cotthoff Attorney At Law, PLLC
Chewning & Chewning
Kenneth R. Haggard And Charles R. Haggard Partnership
White White & Crenshaw
Jason E Holland PLLC
Thomas, Arvin & Adams, PLLC
Industry PPP Comparison Statistics
Nationwide, 200,895 businesses in the "Offices of Lawyers" industry received a total of $16.38B in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 6 employees, 100% higher than Lucius Hawes Law Firm's reported 3 employees, and received an average PPP loan of $81,518, 75% higher than this company's loan of $46,600.
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Footnotes & Information
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